Mangaluru: Man Loses Rs 38 Lakh to Fake Trading Advertisement
Mangaluru: A local resident recently fell prey to a fraudulent trading advertisement on Facebook, incurring a staggering loss of Rs 38,53,961. The incident has led to a case being registered at the Kavoor police station.
According to the complaint filed by the victim, he clicked on a trading advertisement on Facebook, providing his personal details, which led to a phone call from an unknown individual. The caller instructed the victim to transfer Rs 21,000 for registration in stock trading, providing UPI IDs for the payment.
The victim made the initial payment and subsequently received training and information from representatives of the trading company. They enticed him with promises of higher profits if he invested more money. Over time, the victim made multiple payments totaling Rs 38,53,961 from various accounts.
However, when he attempted to withdraw the money, he discovered that it was not possible. It was only after discussing the matter with friends that the victim realized he had been scammed.
The Kavoor police station has registered a case and is investigating the incident. The police have urged citizens to exercise caution when responding to online advertisements and to verify the authenticity of such schemes before investing any money.